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on september 13, the china securities regulatory commission responded to the administrative penalty case of pricewaterhousecoopers by having relevant persons in charge answer reporters' questions. the relevant person in charge stated that in the process of performing the audit of evergrande real estate's 2019 and 2020 annual reports and bond issuance services, pricewaterhousecoopers had problems such as distortion of audit working papers, invalid on-site visit procedures, loss of control over the scope of sample selection, failure of document inspection procedures, and failure of review procedures. the china securities regulatory commission confiscated all of pricewaterhousecoopers' business income and imposed the maximum fine of 325 million yuan, which is close to the total amount of fines and confiscations imposed by the china securities regulatory commission on more than 50 accounting firms that violated laws and regulations in the previous three years.

◎reporter liang yinyan

on september 13, the china securities regulatory commission responded to the administrative penalty case of pricewaterhousecoopers by having relevant persons in charge answer reporters' questions. the relevant person in charge stated that in the process of performing the audit of evergrande real estate's 2019 and 2020 annual reports and bond issuance services, pricewaterhousecoopers had problems such as distortion of audit working papers, invalid on-site visit procedures, loss of control over the scope of sample selection, failure of document inspection procedures, and failure of review procedures. the china securities regulatory commission confiscated all of pricewaterhousecoopers' business income and imposed the maximum fine of 325 million yuan, which is close to the total amount of fines and confiscations imposed by the china securities regulatory commission on more than 50 accounting firms that violated laws and regulations in the previous three years.